During the corresponding time, Rgc Resources Inc saw a revenue deteriorated by -0.92 % year on year, sequentially revenue fell by -62.37 %. While revenue at the Rgc Resources Inc 's corporate clients
Rgc Resources Inc's Comment on Sales, Marketing and Customers
Roanoke Gas relies on multiple interstate pipelines including those operated by
Columbia Gas Transmission Corporation, LLC and Columbia Gulf Transmission Corporation,
LLC (together “Columbia”), and East Tennessee Natural Gas, LLC (“East
Tennessee”), Tennessee Gas Pipeline, Midwestern Gas Transmission Company
and Saltville Gas Storage Company, LLC to transport natural gas from the production
and storage fields to Roanoke Gas’ distribution system. Roanoke Gas is directly
served by two pipelines, Columbia and East Tennessee. Columbia historically has
delivered approximately 60% of the Company’s gas supply, while East Tennessee
delivers the balance of the Company’s requirements. The rates paid for natural
gas transportation and storage services purchased from the interstate pipeline
companies are established by tariffs approved by the Federal Energy Regulatory
Commission ("FERC"). These tariffs contain flexible pricing provisions,
which, in some instances, authorize these transporters to reduce rates and charges
to meet price competition. The current pipeline contracts expire at various times
from 2018 to 2027. The Company anticipates being able to renew these contracts
or enter into other contracts to meet customers’ continued demand for natural
gas.
Roanoke Gas Company, a leading gas provider in the Roanoke Valley for over 140 years, has recently achieved a significant milestone in its history. With the inauguration of the Mountain Valley Pipeline (MVP), the company now has access to a new interstate natural gas pipeline, marking the first such development since 1965. As a result, Roanoke Gas has established two interconnects with the MVP, enabling the delivery of natural gas to the Roanoke Valley as of June 14, 2024.This landmark event carries great significance for Roanoke Gas Company and its parent entity, RGC Resources, Inc. (Nasdaq: RGCO). The introduction of the MVP offers several key advantages for both the company and the region it serves. First...
Rgc Resources Inc’s Comment on Sales, Marketing and Customers
Roanoke Gas relies on multiple interstate pipelines including those operated by
Columbia Gas Transmission Corporation, LLC and Columbia Gulf Transmission Corporation,
LLC (together “Columbia”), and East Tennessee Natural Gas, LLC (“East
Tennessee”), Tennessee Gas Pipeline, Midwestern Gas Transmission Company
and Saltville Gas Storage Company, LLC to transport natural gas from the production
and storage fields to Roanoke Gas’ distribution system. Roanoke Gas is directly
served by two pipelines, Columbia and East Tennessee. Columbia historically has
delivered approximately 60% of the Company’s gas supply, while East Tennessee
delivers the balance of the Company’s requirements. The rates paid for natural
gas transportation and storage services purchased from the interstate pipeline
companies are established by tariffs approved by the Federal Energy Regulatory
Commission ("FERC"). These tariffs contain flexible pricing provisions,
which, in some instances, authorize these transporters to reduce rates and charges
to meet price competition. The current pipeline contracts expire at various times
from 2018 to 2027. The Company anticipates being able to renew these contracts
or enter into other contracts to meet customers’ continued demand for natural
gas.
Sources:
Rgc Resources Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Rgc Resources Inc’s corporate clients.
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